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120
Nov 29, 2012
11/12
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people like romney does not pay a dime in social security. a newspaper here did a story three years ago. we have 11 ceos who made over $10 million a year. they only take about $1 million in salary. to have got to be doing it for a reason. situation isy's complicated. he has got a lot of things that make up his income that are hard to explain. there is carried interest in their, salary that is converted into capital gains income. these are all debatable issues. the fundamental story there is the tax code is too complicated. you're correct that folks in your income level are getting hit especially hard. middle income, middle to upper income pay very high tax rate when you take into account income taxes, payroll taxes. our tax code is very progressive. there is half the population that pays no income tax, and a large percentage of them gets so much money back from the irs bennet -- that it more than makes up for their payroll tax. that is on the low end. on the high end, you have swiss cheese situation where there are so many loopholes and ways
people like romney does not pay a dime in social security. a newspaper here did a story three years ago. we have 11 ceos who made over $10 million a year. they only take about $1 million in salary. to have got to be doing it for a reason. situation isy's complicated. he has got a lot of things that make up his income that are hard to explain. there is carried interest in their, salary that is converted into capital gains income. these are all debatable issues. the fundamental story there is the...
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106
Dec 6, 2012
12/12
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caller: i held my nose and voted for romney. if youonservative, but ask me if i believe in abortion, i do not think it is anyone's business but the woman and her god. i think republicans are run around too much by the religious right. i think where people could -- should become independence. -- independents. you have got to think common sense in this day and time. you're not -- you cannot keep holding on to your democrat or republican party. host: that is dana in oceanside, california. san antonio, texas, a democrat. caller: i was calling about the income tax. not just getting free money, having babies. host: our next call is anjou in marlborough, massachusetts. line 4 independents. -- in robert, massachusetts. line for independents. caller: it is an american problem, and all americans need to step up and help to fix it. for me, i'm willing to pay more taxes if you show me that you're doing the right thing. maybe somehow tie it to a balanced budget amendment. all we hear is talking about increasing taxes or reducing withholdings
caller: i held my nose and voted for romney. if youonservative, but ask me if i believe in abortion, i do not think it is anyone's business but the woman and her god. i think republicans are run around too much by the religious right. i think where people could -- should become independence. -- independents. you have got to think common sense in this day and time. you're not -- you cannot keep holding on to your democrat or republican party. host: that is dana in oceanside, california. san...
149
149
Nov 30, 2012
11/12
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eye 149
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this is an idea mitt romney had on the campaign, this idea that you cap the value at $30,000, say. if you live in an area with low housing prices, that probably would not affect you. if you live at new york, san francisco where your mortgage is more expensive, it would be easier to bump up against what the deduction cap would be. you might not be itemizing your tax returns at the end of every year. host: next call is mike on the democrat's line. areyo you there? caller: i have a question for you. i heard president obama is making cuts to medicare if his plan goes through. he wants to cut $400 billion in entitlements. i collect ssdi. i am disabled. these $40 billion cuts in entitlements, are they going to affect ssi, ssdi? guest: we do not know what the administration is talking about yet. that offer came from the administration on the hill yesterday. it was not specific. $400 billion is what we are looking at in entitlement savings and we're not sure if it is ssdi or how beneficiaries would be affected. host: children make up a lot of these credits. which of these are affected by t
this is an idea mitt romney had on the campaign, this idea that you cap the value at $30,000, say. if you live in an area with low housing prices, that probably would not affect you. if you live at new york, san francisco where your mortgage is more expensive, it would be easier to bump up against what the deduction cap would be. you might not be itemizing your tax returns at the end of every year. host: next call is mike on the democrat's line. areyo you there? caller: i have a question for...
126
126
Dec 5, 2012
12/12
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eye 126
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that came up with mitt romney. his effective tax rate was so low. he was payingthe capital gains tax instead of income tax so was effective tax rate was 13% or 14%. the stepped-up basis is an important point as well. you pay taxes on capital gains tax, it is based on the value of the estate when you inherited it. host: the estate tax or the capital gains tax? guest: the estate tax. asset, you payn capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller: a quick question about the comments of the 401(k). i used to work for a cpa firm. i understand they are income tax deferred instruments. when you take it out, the tax you pay is income tax. the assumption is the rate would be lower. let's say the rate is 25% when yo
that came up with mitt romney. his effective tax rate was so low. he was payingthe capital gains tax instead of income tax so was effective tax rate was 13% or 14%. the stepped-up basis is an important point as well. you pay taxes on capital gains tax, it is based on the value of the estate when you inherited it. host: the estate tax or the capital gains tax? guest: the estate tax. asset, you payn capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations...
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150
Dec 7, 2012
12/12
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mitt romney was right. c-span, i want to know what party affiliation, and who they voted for, that are on unemployment right now. thank you. host: thank you. we could get that information as well. bob, mich. on the independent line. good morning to you. bob are you there? i think we lost bob this morning. i want to talk with this issue of age discrimination and who is on unemployment insurance. here is an article from "the baltimore sun." 93,000 young adults in maryland are unemployed. what ages are on unemployment insurance at this point? guest: historical you tend to see younger workers with less experience on unemployment, because of this recession we see a much wider spread. more people with college degrees, older people taking on income and benefits of some kind, but the challenges once you get past the six-month blocked, the longer you are on unemployment without a job, the harder it is to find a job. if you have a college degree, and you really need to get a job, to some degree you can move down the
mitt romney was right. c-span, i want to know what party affiliation, and who they voted for, that are on unemployment right now. thank you. host: thank you. we could get that information as well. bob, mich. on the independent line. good morning to you. bob are you there? i think we lost bob this morning. i want to talk with this issue of age discrimination and who is on unemployment insurance. here is an article from "the baltimore sun." 93,000 young adults in maryland are...
149
149
Dec 4, 2012
12/12
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eye 149
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the plan that the republicans offered, this is just the romney-ryan plan that the american voters said no to. other than destroying our earned benefit, i do not call them entitlements because we worked hard and we earned them. there are no specifics. what loopholes will they close? of course, they are going to punish the poor and middle- class. their plan still gives another huge tax cut to the 1%. people need to look at what happened to this country between fdr and nixon. look at what happened with the conservative takeover from nixon until now. host: we are going to have congressman tom cole from oklahoma who last week said in a closed-door meeting that they should agree with president obama and extend the tax cuts for middle-class americans and then fight later on for that tax cut for the wealthy. we will ask him about this latest proposal, the counterproposal from the house republicans. j.d. on twitter says -- on our republican , richard from colorado springs, colorado. caller: c-span could put on actual science. i think there is a lot of magical thinking on the part of democrats h
the plan that the republicans offered, this is just the romney-ryan plan that the american voters said no to. other than destroying our earned benefit, i do not call them entitlements because we worked hard and we earned them. there are no specifics. what loopholes will they close? of course, they are going to punish the poor and middle- class. their plan still gives another huge tax cut to the 1%. people need to look at what happened to this country between fdr and nixon. look at what happened...